Similar Search Results

Public Debt, Fiscal Solvency and Macroeconomic Uncertainty in Latin America : The Cases of Brazil, Colombia, Costa Rica, and Mexico

Mendoza, Enrique G. - 2004

Ratios of public debt as a share of GDP in Brazil, Colombia, and Mexico were 10 percentage points higher on average during 1996-2002 than in the period 1990-1995. Costa Rica's debt ratio remained stable but at a high level near 50 percent. Is there reason to be concerned for the solvency of the...

Persistent link: https://www.econbiz.de/10012468055

Financial Development and the Instability of Open Economies

Aghion, Philippe - 2004

This paper introduces a framework for analyzing the role of financial factors as a source of instability in small open economies. Our basic model is a dynamic open economy model with a tradeable good produced with capital and a country-specific factor. We also assume that firms face credit...

Persistent link: https://www.econbiz.de/10012468447

Optimal Currency Area : A 20th Century Idea For the 21st Century?

Aizenman, Joshua - 2016

We take stock of the history of the European Monetary Union and pegged exchange-rate regimes in recent decades. The post-Bretton Woods greater financial integration and under-regulated financial intermediation have increased the cost of sustaining a currency area and other forms of fixed...

Persistent link: https://www.econbiz.de/10012456577

The Euro and Structural Reforms

Alesina, Alberto - 2008

This paper investigates whether or not the adoption of the Euro has facilitated the introduction of structural reforms, defined as deregulation in the product markets and liberalization and deregulation in the labor markets. After reviewing the theoretical arguments that may link the adoption of...

Persistent link: https://www.econbiz.de/10012464168

Macroeconomic Stabilization in Latin America : Recent Experience and Some Sequencing Issues

Edwards, Sebastian - 1994

This paper reviews the experience of Latin American countries with structural reforms, and discusses the relationship between macroeconomic stabilization and trade liberalization programs undertaken in the region since the early 1980s. The problem of sequencing of stabilization and structural...

Persistent link: https://www.econbiz.de/10012474231

Liquidity and Foreign Asset Management Challenges for Latin American Countries

Aizenman, Joshua - 2014

We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation targeting and augmented Taylor rules have impacted the post crisis adjustment of Latin American Countries (LATAM) to the challenges associated with terms of trade and financial...

Persistent link: https://www.econbiz.de/10012458019

Trade and Industrial Policy Reform in Latin America

Edwards, Sebastian - 1994

This paper documents and evaluates the process of trade reforms in Latin America from the mid-1980s until 1993. It provides an analytical and historical discussion of the consequences of industrial policies in the region, from the early 1950s when import-substitution ideas were supported by the...

Persistent link: https://www.econbiz.de/10012474147

Interest Rate Volatility and Contagion in Emerging Markets : Evidence from the 1990s

Edwards, Sebastian - 2000

of volatility through time. We are particularly interested in understanding whether periods of high volatility spillover … across countries. Our analysis relies both on univariate and bivariate switching volatility models. Our results indicate that … high-volatility episodes are, in general, short-lived, lasting from two to seven weeks. We find some weak evidence of …

Persistent link: https://www.econbiz.de/10012470937

Macroeconomic Volatility in Latin America : A View and Three Case Studies

Caballero, Ricardo J. - 2000

efforts, several structural sources of volatility remain, and new ones have emerged as a result of the new and otherwise …

Persistent link: https://www.econbiz.de/10012470968

Economic Fluctuations and Pseudo-Wealth

Stiglitz, Joseph E. - National Bureau of Economic Research - 2021

to the underlying state variables of the economy? We show that macroeconomic volatility can arise from dispersions of …

Persistent link: https://www.econbiz.de/10012482631

1
2
3
4
5
6
7
8
9
10
Next
Last